Western Illinois University Associate Professor of Finance Stephen Gray was recently featured in an article from WalletHub about Umbrella insurance.
The article, “Umbrella Insurance - Everything you need to know about umbrella insurance policies” by McKayla Girardin discusses the what, how, why and who of Umbrella insurance.
“Umbrella insurance is a type of insurance coverage that extends the liability insurance from an auto or homeowner’s insurance policy to cover more situations with higher limits,” Girrardin said. Also referred to as personal umbrella insurance, it can supplement insurance policies for motorcycles, boats and other recreational vehicles too.”
The article section titled “Ask the Experts” features advice from Gray.
“This form of insurance coverage should be purchased by individuals that own a large number of assets and/or expensive assets, including real estate and other investments. Other potential prospects include real estate landlords, members serving on charitable boards, volunteer coaches of children’s sports teams or individuals with a significant public profile” said Gray.
Gray believes it’s important for individuals to find the best insurance policy for their household.